Series F Convertible Preferred Stock offering
Company: Applied Digital
The claim, verbatim
Series F Preferred Stock offering closed August 30, 2024 for net proceeds of $50 million; 53,191 shares issued with 8.0% annual dividend rate
Source (primary)
Applied Digital 424B3 filed 2024-09-11 (SEC EDGAR, sec_filing)
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Quote: “On August 29, 2024, the Company entered into a securities purchase agreement... for the private placement... of 53,191 shares of Series F Convertible Preferred Stock... The transaction closed on August 30, 2024, for total net proceeds to the Company of $50.0 million. Each outstanding share of Series F Preferred Stock is entitled to receive... cumulative dividends... at an annual rate of 8.0% of $1,000.00 per share”
How we checked this
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Additional evidence
confirms Applied Digital 424B3 filed 2024-09-11
Quote: “On August 29, 2024, the Company entered into a securities purchase agreement... for the private placement... of 53,191 shares of Series F Convertible Preferred Stock... The transaction closed on August 30, 2024, for total net proceeds to the Company of $50.0 million. Each outstanding share of Series F Preferred Stock is entitled to receive... cumulative dividends... at an annual rate of 8.0% of $1,000.00 per share”